Banking

On Sep. 30, 2020. Dollars in thousands.

On Sep. 30, 2020. Dollars in thousands.

Harper, a Democrat, had long been expected to be promoted to the chairmanship under a Biden administration, but he could face an uphill climb moving his priorities forward.

Cardtronics will accept a $1.7 billion sale to NCR after the ATM producer outbid Apollo Global Management and Hudson Executive Capital.

The expected nomination of Michael S. Barr has disappointed many progressives; the Morgan Stanley boss got a 22% raise to $33 million, while JPMorgan CEO held steady at $31.5 million.

Under a proposed rule change, credit unions would no longer need to seek pre-approval from the regulator before entering into interest rate swaps, speeding up transactions for some of the industry’s biggest institutions that already hold over 80% of total assets.

The Columbus, Ohio, company plans to close nearly 200 branches in the state — including more than 90 in Meijer grocery stores — after it acquires TCF Financial. It also intends to significantly boost its technology spending to improve its digital capabilities.

Deposits are soaring while loan demand lags and mortgage-backed securities offer weak returns. So the Alabama company has parked loads of cash at the Fed in hopes the economy will pick up steam before profit margins suffer.

U.S. credit card delinquencies reached record-low levels in 2020, as Americans took advantage of stimulus checks and adjusted their spending habits, according to a new report.

The auto finance company, which had stumbled in forays into the credit card business, is now seeing rapid growth in mortgage and unsecured consumer lending.

Pandemic-induced shifts in how people work and bank will allow the Tennessee company to shed more branches and office space. It now projects it will slash expenses by an additional $30 million a year.

A recent agreement with the California Cannabis Industry Association will make it easier for legal cannabis businesses across the state to join the $92 million-asset credit union.

The digital bank for students, which recently merged with a blank-check company, can tap its new source of capital to diversify and pursue more white-label partnerships.

The Eugene-based institution joined a small but growing number of credit unions that have raised their entry-level pay in recent years.

The upstate New York company unloaded three loans, joining a short list of lenders that have purged problematic credits during the pandemic.

Consumer banking may do better this year, while the investment banking boom is unlikely to repeat; several prominent investors likely took losses betting on Fannie, Freddie privatization.

The Connecticut company said it will take several years to shut down the locations, which are located in Stop & Shop stores. About 80% of the branches are within five miles of traditional locations.

The bank's nonaccrual loans have been soaring as the pandemic continues to roil the hospitality sector. M&T executives said they've been working with borrowers to keep them out of foreclosure.

The Cleveland company will launch the service in March to broaden relationships its Laurel Road student loan refinancing unit has built with health care professionals.

Greg Carmichael said lightly regulated challenger banks pose a long-term threat to traditional banks, echoing comments JPMorgan Chase’s Jamie Dimon made last week.